Bank Failures in Brief

2017

There were 8 bank failures in 2017. The list of Bank Failures in Brief is updated through December 15, 2017, the date of the last bank closing. Please address questions on this subject to the Customer Service Hotline (Telephone: 1-888-206-4662).

December

Washington Federal Bank for Savings, Chicago, IL with approximately $166.3 million in total assets and $144 million in total deposits was closed. Royal Savings Bank has agreed to assume the non-brokered insured deposits.
(PR-096-2017)

October

The Farmers and Merchants State Bank of Argonia, Argonia, KS with approximately $34.2 million in total assets and $29.6 million in total deposits was closed. Conway Bank has agreed to assume all deposits.
(PR-080-2017)

May

Fayette County Bank, Saint Elmo, IL with approximately $34.4 million in total assets and $34.0 million in total deposits was closed. United Fidelity Bank, fsb has agreed to assume all deposits.
(PR-041-2017)

Guaranty Bank, Milwaukee, WI, (d/b/a BestBank in Georgia & Michigan) with approximately $1.0 billion in total assets and $1.0 billion in total deposits was closed. First-Citizens Bank & Trust Company has agreed to assume all deposits.
(PR-037-2017)

April

First NBC Bank, New Orleans, LA with approximately $4.74 billion in total assets and $3.54 billion in total deposits was closed. Whitney Bank has agreed to assume the transactional deposits (approximately $1.6 billion), and to purchase approximately $1 billion of the failed bank's assets. The FDIC mailed checks for the time deposits (CDs and IRAs) and retained the remaining assets for later disposition.
(PR-034-2017)

March

Proficio Bank, Cottonwood Heights, UT with approximately $68.2 million in total assets and $65.0 million in total deposits was closed. Cache Valley Bank has agreed to assume all deposits.
(PR-019-2017)

January

Seaway Bank and Trust Company, Chicago, IL with approximately $361.2 million in total assets and $307.1 million in total deposits was closed. State Bank of Texas has agreed to assume all deposits.
(PR-009-2017)

Harvest Community Bank, Pennsville, NJ with approximately $126.4 million in total assets and $123.8 million in total deposits was closed. First-Citizens Bank & Trust Company has agreed to assume all deposits.
(PR-004-2017)